To The Moon

Venture Global, a prominent U.S. liquefied natural gas (LNG) exporter, is preparing for a significant initial public offering (IPO) aimed at achieving a valuation of up to $110 billion

Some Key Details

• IPO Size and Pricing: The company plans to offer 50 million shares priced between $40 and $46 each, potentially raising up to $2.3 billion if the shares sell at the upper end of this range.

• Market Context: This IPO is expected to be the largest by an energy company in the U.S. since 2013, surpassing previous records in the sector. The timing aligns with a growing global demand for LNG amid a transition towards cleaner energy sources.

• Company Background: Founded in 2013, Venture Global has quickly established itself as a major player in the LNG market, operating facilities like Calcasieu Pass and recently launching operations at its Plaquemines LNG plant. The company has reported approximately $19.6 billion in revenue from LNG sales as of September 30, 2024.

• Governance Structure: Post-IPO, founders Michael Sabel and Robert Pender will retain over 50% of voting rights, maintaining control through Class B shares that carry ten votes each, compared to one vote per Class A share offered to the public.

• Listing Information: Venture Global intends to list its shares on the New York Stock Exchange under the ticker symbol "VG" and is expected to begin marketing its IPO shortly, with formal presentations to investors anticipated soon.

This IPO represents a significant opportunity for Venture Global to capitalize on its position in the rapidly growing LNG market while also navigating challenges such as ongoing legal disputes with major clients like $SHELL PLC(RYDAF)$ and $BP PLC(BP)$ over contractual obligations